President Donald Trump on Friday threatened a 50% tariff on goods from the European Union, citing a lack of progress in current trade negotiations. “Their powerful Trade Barriers, Vat Taxes, ridiculous Corporate Penalties,

EU says threats should not guide trade talks as Trump says he wants tariffs of 50% on European goods as soon as 1 June.

The markets closed lower Friday after President Trump threatened to impose a 25% tariff on Apple and 50% tariff on the European Union.